GLOBE ATTAINS HISTORIC AA RATING FROM MSCI, SETS BENCHMARK FOR ESG PRACTICES IN THE PHILIPPINES
Globe, a leading telecommunications company in the Philippines, has achieved a historic milestone in its commitment to sustainability by securing an AA rating from MSCI. This marks the highest rating among companies and within the telco industry in the Philippines to date.
MSCI ESG Research provides MSCI ESG Ratings on a global scale, ranging from AAA (leader) to CCC (laggard), based on exposure to industry-specific Environmental, Social, and Governance (ESG) risks and the ability to manage those risks relative to peers. The recent upgrade to AA reflects Globe’s exceptional performance in governance structures, policies, targets, quantitative performance metrics, and management of relevant controversies.
Yoly Crisanto, Chief Sustainability and Corporate Communications Officer of the Globe Group, stated, “This MSCI AA rating is a testament to Globe’s steadfast commitment to sustainability practices and a historic feat for the Philippines in itself. As we put our sustainability ambitions into action and embed its principles in the way we do business, we are proud to set the benchmark for ESG practices in the industry and the country.”
Globe’s MSCI rating reflects successes across various aspects:
- Environmental Leadership: Globe has demonstrated exemplary leadership in climate action by committing to science-based targets through the Science-Based Target Initiative (SBTi). The company aims to halve greenhouse gas emissions by 2030 and achieve Net Zero emissions by 2050. In 2022, Globe surpassed its target by reducing 4.42% of carbon emissions through renewable energy adoption, investment in energy-efficient technologies, and deployment of green solutions.
- Social Responsibility: Globe upholds a strong commitment to privacy and data security, conducting regular vulnerability assessments and security threat detection. The company prioritizes data privacy and information security training for all employees. In labor practices, Globe’s “Alagang Globe” Program demonstrates dedication to employee well-being, ensuring competitive pay and earning recognition in 2022 for outstanding workplace practices.
- Governance Excellence: Globe’s governance initiatives include the addition of four new directors, two of whom are female, demonstrating a commitment to diversity. The Board now comprises four independent directors and two female member directors. The company adopts ESG-linked policies, upholding high sustainability and corporate governance standards. Globe’s Code of Conduct embeds universal principles on human rights, labor, environment, and anti-corruption into daily operations.
Globe’s latest MSCI ESG Rating underscores its dedication to ESG strategies and practices, setting a high standard for companies in the Philippines and beyond. MSCI ESG Research provides in-depth research, ratings, and analysis of ESG-related business practices globally. These insights help institutional investors identify risks and opportunities often overlooked by traditional investment research.
For more information about MSCI ESG Research, visit the MSCI website.
Disclaimer: The use by Globe of any MSCI ESG Research LLC or its affiliates (“MSCI”) Data, and the use of MSCI logos, trademarks, service marks, or index names herein, do not constitute a sponsorship, endorsement, recommendation, or promotion of Globe by MSCI. MSCI services and data are the property of MSCI or its information providers and are provided ‘as-is’ and without warranty. MSCI names and logos are trademarks or service marks of MSCI.